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30-06-2018
Advanced Placement (AP)

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If the price is above the equilibrium level, then the quantity supplied will exceed the quantity demanded. This is known as _____________.

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03-11-2019

Answer: A surplus

Explanation:Regardless of the cause, a price above equilibrium will result in quantity supplied being greater than quantity demanded. This excess supply is also known as a surplus. There are too many sellers who are enticed by the high price, and not enough buyers.

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